The company also experienced a solid growth in second-quarter revenue. The e-commerce company’s adjusted earnings for the quarter came in at 14 cents a share, crushing analysts’ expectations of 3 cents a share. The quarterly revenue surged +48% to $362 million, also higher than analysts’ estimates of $350 million.  Looking ahead, Shopify has projected revenue between $1.51 billion and $1.53 billion for the full year.For the third-quarter, it expects revenue to range between $377 million and $382 million. 

Micron Technology shares got a rating upgrade by Morgan Stanley, on hopes for near-term boost from rising DRAM prices. Morgan Stanley analysts raised their rating on the computer memory/data storage company’s stock to equal weight from underweight.If cloud and smartphone inventory builds reaccelerate, Micron could experience tailwinds in 2020 and its stock could touch new highs – according to Moore.

Grubhub shares slumped on Tuesday, after the online food ordering & delivery company reported adjusted second-quarter earnings that missed analysts' estimates. The company’s earnings came in at 1 cent a share in the second quarter, down -96% from 33 cents a share in the year-earlier quarter.Adjusted earnings per share was 50 cents a year earlier. Total costs and expenses rose +55.3% to $318.9 million. However, the company’s revenue for the quarter surged +36% to $325.1 million, beating analysts’ estimate of $318.2 million. Grubhub said that active users of its website increased +30% to 20.3 million, and daily average orders went up +16% to almost 489,000. Looking ahead, the company expects revenue of $320 million to $340 million for the third quarter, compared to FactSet's consensus expectation of $331.7 million.

On Tuesday, Altria Group reported second-quarter adjusted earnings that was almost in line with analysts' expectations.Its prior forecast of the decline was -3.5% to -5%. Altria also revised its expectations of total domestic cigarette industry volumes decline to -4% to -6% through 2023, compared to the previously forecast range of -4% to -5%.

Steel (NYSE: X) is scheduled to report second quarter earnings results after the closing bell on August 1.The indicators are approaching the same levels they hit in February before the stock rolled over and fell another 50%. The Tickeron Trend Prediction Engine generated a bearish signal for U.S. Steel on July 23 and that signal calls for a drop of at least 4% within the next month.

While the sector has only matched the overall market, Arconic (NYSE: ARNC) has more than doubled the XLB and the S&P. Since the December low, Arconic has rallied almost 60%.The indicators made a bullish crossover on July 24 and that could be a sign that the rally will resume. The Tickeron Trend Prediction Engine generated a bullish signal for Arconic on July 22 and it showed a confidence level of 89%.

HUYA Inc. (NYSE: HUYA) operates an internet gaming platform in China.The company has been doing well in recent years and the stock has been trending higher. We see on the daily chart that the stock hit a low in early December and then jumped sharply higher before pulling back again.

The parent company of Google also revealed its $25 billion additional stock buyback plan. Alphabet’s adjusted earnings for the quarter came in at $14.21 per share, wee above the $11.30 per share expected by analysts surveyed by Refinitiv. Total revenue of $38.94 billion also exceeded analysts’ estimate of $38.15 billion. Even traffic acquisition costs of $7.24 billion for the tech giant were lower than the $7.27 billion expected, according to StreetAccount.Traffic acquisition costs incurred as a percentage of Google advertising revenues was slightly lower this year compared to the previous year’s quarter. While cost-per-click on Google properties declined -11% year-over-year in Q2, paid clicks on Google properties surged + 28% over the same period. Alphabet also said that its board of directors have approved a repurchase of up to an additional $25 billion of its Class C capital stock.

Twitter posted higher-than-expected adjusted earnings for its second quarter, along with reporting strong growth in its number of daily active users. The social networking company’s adjusted earnings came in at 20 cents per share, compared to the 19 cents per share expected by analysts polled by Refinitiv. Total revenue for the company increased +18% year over year to $841 million, which exceeded analysts' estimate of $829.1 million (per Refinitiv survey). According to Twitter,  it achieved an average of 139 million monetizable daily active users (mDAUs) in the second quarter, which is +14% higher from the year-ago quarter.International average mDAUs were 110 million in the quarter, +15% higher from the year-ago period. Twitter said that its total advertising revenue increased +21% year-over-year (or +23% on a constant currency basis) to $727 million in the quarter.

McDonald's Corp. reported second quarter earnings that were in line with analysts’ expectations, while the fast food chain’s comparable store sales surpassed expectations.  The company’s adjusted earnings for the three months ending in June came in at $2.05 per share, up 6 cents from the same period last year and largely matching the Street consensus estimates. Total revenues declined -0.4% year-over-year to $5.34 billion, but exceeded analysts' estimates of $5.32 billion. Yea-over-year growth in global same-store sales came in at 6.5% in the quarter.Comparable U.S. sales grew +5.7%, a faster rate than the Street estimate of +4.5%.  CEO Steve Easterbrook emphasized that the restaurant chain has now experienced 16 consecutive quarters of positive global comparable sales.

Dow Inc.’s second quarter adjusted earnings, though beat analysts’ estimates, fell sharply from the year-ago period. The chemical and industrial products maker's net income declined to $75 million (or 10 cents a share), from $1.33 billion, (or $1.78 a share) in the year-ago period.It missed FactSet consensus of $11.29 billion. The company lowered its spending outlook by -25% to $2 billion in 2019, and said that it would delay a 450,000-ton polyolefins plant expansion in Europe and a feasibility study for a new siloxanes plant. Dow Inc. has projected third-quarter revenue of $10.50 billion to $11 billion, a range lower than estimates of $12.03 billion. "Macro environment is cautious, largely driven by geopolitical volatility and prolonged trade negotiations," Chief Executive Officer Jim Fitterling said on a post-earnings call.

Raytheon reported second-quarter results that exceeded analysts’ estimates.The defense contractor company also boosted its full-year guidance. The company’s net income came in at $817 million, or $2.92 a share – higher than analysts’ expectations of $2.64 a share (based on FactSet poll of analysts). Revenue increased +8.1% year-over-year to $7.16 billion, also beating analysts’ estimate of $7.04 billion. Raytheon lifted its full-year earnings guidance to  $11.70 a share, compared to its previous projection of $11.60.  It also raised its full-year net sales outlook to $29.3 billion from $29.1 billion. Raytheon’s CEO Thomas A. Kennedy said the company’s merger plans with the United Technologies Corporation "is progressing well”.

Bristol-Myers Squibb beat second quarter earnings estimates, while also lifting its full-year profit guidance. The pharmaceutical company’s non-GAAP earnings for the three months ending in June came in at $1.18 per share, 10 cents higher than the Street consensus estimates.The earnings per share figure is also +16.8% higher compared to the year-ago quarter. The company’s total revenues increased +10.52% to $6.3 billion, topping analysts' estimates of $5.72 billion.

Hershey’s second quarter earnings beat analysts’ expectations. Hershey forecasts adjusted earnings increase of +6% to +7% for the year. The company now projects full-year sales growth of +2%, compared to a prior guidance for an increase of +1% to +3%.

3M Co. reported second quarter earnings that beat analysts’ expectations.The company also affirmed its full-year profit guidance. The industrial conglomerate’s adjusted earnings for three months ending June came in at $2.20 per share, which is higher than the Street consensus estimate of $2.04 per share. The company’s total revenue fell -2.6% from last year to $8.2 billion, but exceeded analysts' expectations of an $8.02 billion. In April, 3M decided to slash 2,000 jobs, as weakening demand in automotive and electronics sectors in China apparently propelled the company to cut production. Looking ahead, 3M projects its full-year adjusted earnings in the range of $9.25 to $9.75 per share, thereby maintaining its prior forecast. GAAP earnings, however, are expected by the company to be in the range of $8.25 to $8.75 per share, down from a prior projection of $8.53 to $9.03 per share, due  to a 28 cent charge related to the de-consolidation of its Venezuelan subsidiary.

Tesla reported a loss wider than anticipated for its second quarter. The electric car maker reported adjusted loss of -$1.12 a share, compared to the - 40 cents loss expected by analysts polled by Refinitiv. Revenue of $6.35 billion came in lower than analysts’ estimates of $6.41 billion. Earlier this month, the company announced its record high vehicle production and deliveries, selling 95,200 vehicles during the second quarter and producing 87,048 cars during that period. According to the company, it has a weekly run-rate of 7,000 Model 3 vehicles, and hopes to be able to produce 10,000 Model 3s weekly by the end of 2019.

One stock that has been trending higher in somewhat of a pattern is Royal Dutch Shell Class A Shares (NYSE: RDS/A).We see that the indicators also made bullish crossovers at the previously mentioned lows in March and May. The Tickeron technical analysis overview shows several bullish factors that could help the stock maintain the overall trend.

The housing industry has been pointing to a recovery for several months now and with the Fed expected to cut interest rates at the July FOMC meeting that should only help the turnaround.The swings within the channel have been good for 8% to 12% upward moves and they have started with the stochastic readings in oversold territory and then making a bullish crossover. The Tickeron Trend Prediction Engine generated a bullish signal for the ETF on June 28.

The stock just hit the lower rail of the channel and looks to bounce back from a recent pullback. One other development from the chart is the fact that the daily stochastic readings dropped down below the 30 level and made a bullish crossover on June 26.The indicators didn’t quite reach oversold territory, but the crossover could act as a bullish sign. The Tickeron Trend Prediction Engine generated a bullish signal for US Foods on June 24.

 It also raised its guidance for the full year. The electronics/home appliances maker’s adjusted earnings came in at $4.01 a share, higher than the $3.71 a share consensus expectation of analysts surveyed by FactSet . Sales for the quarter rose +0.9% year-over-year to $5.19 billion, edging past analysts’ estimate of $5.02 billion.Excluding the effect of currency fluctuations, sales increased +3.5%. Looking ahead, the company now expects full-year 2019 adjusted earnings between $14.75 and $15.50 -  the midpoint of which is 4% higher compared to the previous forecasted range.